Remain long | 09 December 2020

Technical observation

On the chart above, price is trading with an increasing bullish momentum above a supportive zone 1.2102-1.2097. I expect this upwards movement to continue to the resistance line 1.2175 followed by a clear breakout above it for a further surge to the upper side. My advice, if you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.2175. As it is on the chart above, as long as piece is contained above 1.2102-1.2091, only bullish positions as can be recommended. However, in case of a break below the same zone you can expect bearish movements towards 1.1995.

Trade recommendation

Remain long with your take profit at 1.2175.